American Automobile Network Holdings Signs Historic Deal With Leading Chinese Auto Maker
BOCA RATON, Fla.--April 29, 2002--A groundbreaking international auto industry deal will be signed today in the U.S. by a delegation from China representing Tianjin Automobile Industrial Import & Export Corp. (TAIEC) and American Automobile Network Holdings, Inc. (AANH). The contract grants AANH exclusive worldwide manufacturing/distribution rights of the Chinese-built motor vehicles, it was announced today by Ken F. Wallett, Chief Executive Officer of AANH. The TAIEC group is being led by Mr. Dong Ke Cheng, manager of the auto manufacturer.
A letter of intent was executed by both companies on March 23, during meetings held in Tianjin, China between TAIEC management, Mr. Wallett and AANH Chairman Michael Kurzman.
"This agreement is a first time event in the automotive industry to award exclusive worldwide manufacturing/distribution rights to Chinese-built motor vehicles. AAN Holdings is proud to have been chosen by Tianjin. Tianjin's history of producing high quality motor vehicles will now have a new chapter with its worldwide distribution. From day one we will be committed to work closely with Tianjin management the distributors and dealerships to ensure the highest level of service to our customers," said Wallett.
TAIEC is a state-owned automobile manufacturer in the city of TIANJIN, where it manufactures motor vehicles cars and mini-vehicles including Xiali cars, Huali mini-vans, special-purpose vehicles, tractor and parts. The Xiali sedan is one of the best-selling cars in China and is noted for its appearance and low fuel consumption.
Following the contract ANNH will immediately begin distribution of motor vehicles outside the US and begin the certification process of Tianjin motor vehicles for US distribution and other worldwide markets requiring certification.
AANH, is a Boca Raton, Florida-based company whose mission is to provide services to primary and secondary automotive markets worldwide. In addition, through its subsidiaries the company is developing AutoPlex Malls, a one-stop automotive shopping center, the re-introduction of classic motor vehicles, collision services, insurance and auto leasing. AANH offices are located at 1615 S. Federal Highway, Boca Raton, FL 33432. 561-361-9330.
To arrange an interview (2:30-4:30pm) or photo (11:30am) on Monday, April 29, please contact Fran Schwartz at 954-205-2216 (cell) or 954-370-8999. (Event will take place at the Delray Beach Marriott, 610 Ocean Boulevard, Delray Beach, Florida.)